Issue - meetings

To receive an update on the Councils financial position and the budget going forward to 2013/14, from the Assistant Director of Finance and the Cabinet Member for Finance and Carbon Reduction

The Chair welcomed Councillor Goldberg – Cabinet Member for Finance and Carbon Reduction – and Neville Murton – Head of Finance, Children & Young People.

Councillor Goldberg introduced the report as set out in the agenda papers.  The authority had been set a reduction target of £84m over three years.  This target was likely to now be £100 over four years and £125m over five years.  There was a £3.7m under spend, however this was a one-off saving, due to the Housing Revenue Account outturn surplus.  The Authority had a contingency of £2m, which was not overly cautious – however this had not been used, as targets had been met.

The following responses were provided to questions from the Committee:

·        The transition reserve would continue to be carried forward into the next financial year, as the Authority needed to make further spending cuts of at least £35m.

·        When identifying where cuts can be made, a key decision was to protect frontline services, but there had been and would be cuts across the board.  Back office cuts meant a pressure on front line services to take on extra work.

Councillor Winskill informed Councillor Goldberg that he would submit two further questions in writing.

The Chair thanked Councillor Goldberg and Neville Murton for attending.